Bitcoin Technical Analysis Prediction:
Observing the recent behavior of Bitcoin, it seems that we are currently heading into a correction phase. What stands out prominently on the charts is the bearish divergence, which I'm designating as level C. With this pattern in mind, there's a potential for Bitcoin to drop around the 32k mark. This could essentially allow Bitcoin to fill the current gap.
On the flip side, there is an emerging pattern that is drawing my attention. This pattern is a bullish expanding or open triangle. If my analysis holds, we are yet to witness level E of this pattern, which could propel Bitcoin to a target of 42k.
For those who are inclined towards accumulation or are eyeing entry points, these levels present what might be golden opportunities. In my view, this could be a lucrative discount before we witness a more significant upward surge.
In terms of support, there are two primary levels to watch out for: 32k and 30k. Personally, a dip to 30k would be a welcomed opportunity, and I'd be inclined to add more to my position at that level.
Disclaimer: This is merely my personal analysis and opinion based on current chart patterns. Always conduct your own research before making any investment decisions. I am not a financial advisor
Observing the recent behavior of Bitcoin, it seems that we are currently heading into a correction phase. What stands out prominently on the charts is the bearish divergence, which I'm designating as level C. With this pattern in mind, there's a potential for Bitcoin to drop around the 32k mark. This could essentially allow Bitcoin to fill the current gap.
On the flip side, there is an emerging pattern that is drawing my attention. This pattern is a bullish expanding or open triangle. If my analysis holds, we are yet to witness level E of this pattern, which could propel Bitcoin to a target of 42k.
For those who are inclined towards accumulation or are eyeing entry points, these levels present what might be golden opportunities. In my view, this could be a lucrative discount before we witness a more significant upward surge.
In terms of support, there are two primary levels to watch out for: 32k and 30k. Personally, a dip to 30k would be a welcomed opportunity, and I'd be inclined to add more to my position at that level.
Disclaimer: This is merely my personal analysis and opinion based on current chart patterns. Always conduct your own research before making any investment decisions. I am not a financial advisor
Comment:
Trade closed: target reached